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KPMG

New Luxembourg Leaks Reveal Disney, Koch Industries Tax Deals

New Luxembourg Leaks Reveal Disney, Koch Industries Tax Deals

LONDON (Reuters) – Walt Disney Co, commodities group Koch Industries and others agreed deals in Luxembourg that could have delivered huge tax savings, a group of investigative journalists has reported, heightening an international debate on corporate tax avoidance. The International Consortium of Investigative Journalists (ICIJ) said the two companies engaged in complex restructurings and channeled […]

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KPMG Settles Auditor Independence Complaint for $8.2 Million

KPMG Settles Auditor Independence Complaint for $8.2 Million

The SEC said Big Four firm KPMG LLP violated the auditor independence rules by providing consulting services to its audit clients. The firm didn’t admit or deny its guilt, but it agreed to pay $8.2 million and change its employee policies and training to limit the likelihood of more problems with the conflict-of-interest rules. The […]

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Court of Appeals Case, Tenth Circuit: Tax Shelter Lacked Economic Substance and Penalties Applied

Court of Appeals Case, Tenth Circuit: Tax Shelter Lacked Economic Substance and Penalties Applied

In Blum v. Commissioner, (CA 10th Cir., 12/18/2013), 112 AFTR 2d ¶ 2013-5690, where a taxpayer chose to litigate a tax shelter scheme, i.e., the Offshore Portfolio Investment Strategy (OPIS), that IRS had formally disallowed as a general scheme many years before, the Court of Appeals for the Tenth Circuit has affirmed the Tax Court’s […]

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Ruling in Case Against Chinese Auditors Delayed to January

Ruling in Case Against Chinese Auditors Delayed to January

The SEC’s chief administrative law judge said an extra three months were needed to review the thousands of pages of documents in a complaint against the Chinese affiliates of the major audit firms. A ruling in favor of the SEC could bar the affiliates of Ernst & Young, KPMG, Deloitte & Touche, Pricewaterhousecoopers, and BDO […]

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Five Foreign Affiliates of Big Four Firms Cited for Flawed Audits

Five Foreign Affiliates of Big Four Firms Cited for Flawed Audits

The PCAOB released inspection reports for 23 accounting firms on October 3, 2013, and found problems at 13 of them. The reports included reviews of work done by Deloitte Touche Tohmatsu in Australia, Ernst & Young Inc. in South Africa, KPMG’s operations in India and the Netherlands, and PricewaterhouseCoopers in Germany and Papua New Guinea. […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Certifications &
Associations
Member CA Bar Member Orange County Bar US Tax Court Attorney